FinTech news in gohenry category

The acquisition is notable for a couple of reasons. For one, if the companies have managed to keep their valuations level (valuations have seen a lot of pressure in the last six months) it would be one of the bigger M&A deals between two fintech startups, coming at a time when startups have found it very challenging to raise further funding — either from private investors, or from the public markets by way of an IPO.

U.K. fintech GoHenry is announcing $55 million in funding to double down on the opportunity. This also played out, interestingly, among young people, GoHenry said, with the company seeing a surge of new users during the pandemic and an increased rate of activity among existing customers.

While GoHenry has pretty much had to build itself up from scratch in the U.S., it clear that it’s adopting an entirely different approach for markets closer to home — and there are many advantages to buying an established brand with traction as it has done with Pixpay, perhaps chief among them being that GoHenry doesn’t have to concern itself as much with hiring, localization, and launch campaigns.